During the week ending November 30, the Chinese domestic cold rolled coil (CRC) markets have indicated a rising trend, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, a supply shortage has continued to be observed in the Chinese domestic CRC market, providing solid support for CRC prices. In the last two days, ferrous metal futures prices in China have softened, which will exert negative pressure on CRC prices in the spot market. However, as CRC inventories are on the low side, traders are unwilling to reduce their offer prices and are mostly maintaining a wait-and-see stance. It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 4,530 | 657 | ↑150 |
Tianjin | Tangshan Steel | 4,300 | 624 | ↑160 | |||
Lecong | MaSteel | 4,630 | 672 | ↑230 | |||
Average | - | 4,487 | 651 | ↑180 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,520 | 656 | ↑170 |
Tianjin | Anshan Steel | 4,550 | 660 | ↑90 | |||
Lecong | Anshan Steel | 4,650 | 675 | ↑230 | |||
Average | - | 4,573 | 664 | ↑163 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB